Question

A local theatre group wants to increase the membership and attendance at its performances. To do​ so, it hosts free​ shows, offers standup comedy​ nights, and sends volunteers to the local high school. In what is the theatre group​ engaging?
A.Market research
B.Societal marketing
C.Product placement
D.Advertising
E.Market exchange

Answer 1

Answer:

E) Market Exchange

Explanation:

Market exchange refers to at least two people or firms trading one good or service for another. In this case, the theater group is trading a free show and other promotional activities (standup comedy nights, and volunteer work) in exchange for higher membership to their group or higher attendance to their shows.

A trade does not necessarily imply a money exchange, it can also include goods or services that provide utility for the other party. For example, an increase in group membership will help the theater group perform better.